And one of the world's largest petrochemical enterprise

--Lian de Barcel Industries

And one of the world's largest petrochemical enterprise

--Lian de Barcel Industries

Bora LyondellBasell Petrochemical Co., Ltd., Phase I project covers an area of 3300 mu, which was officially put into operation on September 1, 020. (Bora Chemical Co., Ltd.) project was started in April, 2017. During the "13th Five-Year Plan" period, in accordance with the strategic goals of "localization", "clusterization" and "integration". The company implemented the "300KTA Light Hydrocarbon Utilization Project".
In July 2017, this project was listed by the National Development and Reform Commission as one of the key three-year rolling projects to promote the old industrial base in Northeast China. In 2017, LyondellBasell Industries Company, one of the world’s largest plastic, chemical and oil refining

companies, entered into a partnership with Bora Group. Under the strong support of the Liaoning Provincial Party Committee and Provincial Government, the two Parties officially signed the Joint Venture agreement onarch 6, 2020. On March 31, 2020, The name change of Joint Venture was approved, and it obtained national anti-monopoly review on April 23, 2020. On August 28, 2020, Joint Venture was successfully completed the equity delivery, and the equity transfer payment of USD 472 million was received.
The Phase I Petrochemical Project of Bora LyondellBasell Petrochemical Co., Ltd. was successfully completed and put into operation on September 1, 2020. The major units of the Phase I project includes the 1000KTA cracker, 450KTA LLDPE, 350KTA HDPE, 400+200KTA PP, 120KTA butadiene extraction,400KTA pyrolysis gasoline hydrogenation, 250KTA aromatic extraction, 120KTA/35KTA MTBE/Butene-1 and 350KTA SM as well as the corresponding utilities and auxiliary units.  
After the completion of the project, Panjin will become a world-class polyolefin and chemical production base,and will drive the development of industry-related industrial chains including plastic packaging, building materials, engineering construction, equipment anufacturing,ransportation storage, etc. It is expected to drive investment in related industries over RMB 100 billion. It will further promote the development of Liaoning petrochemical industry in the direction of scale, greening, high-end, and clustering, and make new and greater contributions to the overall evitalization of Liaoning Province.
Bora LyondellBasell Petrochemical Co., Ltd., Phase I project covers an area of 3300 mu, which was officially put into operation on September 1, 020. (Bora Chemical Co., Ltd.) project was started in April, 2017. During the "13th Five-Year Plan" period, in accordance with the strategic goals of "localization", "clusterization" and "integration". The company implemented the "3000KTA Light Hydrocarbon Utilization Project".

Liaoning Jincheng Petrochemical Co., Ltd. (formerly Liaoning Baolai Enterprise Group) and Lian de Basser Industrial Co., Ltd. signed a memorandum of understanding on the project joint venture and cooperation, and planned to implement a petrochemical industry project with a total investment of US $12 billion (equivalent to 80 billion yuan). The total investment in the first phase of the project is 18 billion RMB.

On August 15, 2020, Bora LyondellBasell Petrochemical Co., Ltd. completed the industrial and commercial change registration procedures, LyondellBasell and Bora Group each holding 50% of the equity. With a total investment of USD 6.5 billion, the shareholders formally completed the equity transfer on August 28, and LyondellBasell’s capital of RMB 3.25 billion (USD 472 million) was fully funded.

Bora Group is the largest private petrochemical enterprise in Northeast China, with total assets of nearly RMB 100 billion. Panjin North Asphalt Fuel Company - its core enterprise, has the right to use 7000KTA imported crude oil and the qualification of importing crude oil for non-state trade and wholesale of refined oil. In 2020, the company was ranked 299th in the “Top 500 Chinese enterprises”.
LyondellBasell is a world-renowned plastics, chemicals and refining company with 2019 sales of approximately USD 35 billion, ranked 316th on the Fortune Global 500 Companies and employing approximately 19, 000 people worldwide. With a tradition of innovation spanning nearly 70 years, the company provides products and services to more than 100 countries worldwide. In 2020, LyondellBasell was honored a “Global Most Admired Company” by Fortune magazine for the third consecutive year and received the American Chemistry Council’s 2019 Responsible Care Award. In recent years, LyondellBasell has increased its investment in China, with multiple locations in Suzhou, Changshu, Dongguan, Nansha and Ningbo, with five wholly-owned modified material plants and operating offices in Hong Kong, Shanghai, Beijing, Guangzhou and Taiwan, while actively expanding its presence in China through joint ventures to serve the rapidly growing Chinese market.
On September 5, 2019, the two parties signed a MOU and government support agreement for joint venture cooperation, in which LyondellBasell took 50% of equity in the project under construction by Bora Chemicals with a total value of approximately USD 2.6 billion. According to further negotiations between the two parties, medium and long-term petrochemical industry projects with a total investment of USD 12 billion are planned to be implemented within the next 10 years.